GSA Capital Partners LLP Sells 581,220 Shares of Digital Turbine, Inc. (NASDAQ:APPS)

Key Points

• GSA Capital Partners LLP significantly reduced its stake in Digital Turbine, Inc. by 62.3%, selling over 581,000 shares and retaining about 351,904 shares valued at approximately $955,000.
• Digital Turbine reported $0.10 earnings per share for the last quarter, exceeding analyst expectations of $0.05, with total revenues of $119.15 million.
• Analysts have recently upgraded Digital Turbine's stock rating from "hold" to "buy", with new price targets increased to as high as $7.00.

GSA Capital Partners LLP trimmed its stake in Digital Turbine, Inc. (NASDAQ:APPS - Free Report) by 62.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 351,904 shares of the software maker's stock after selling 581,220 shares during the quarter. GSA Capital Partners LLP owned about 0.34% of Digital Turbine worth $955,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APPS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Digital Turbine by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,090 shares of the software maker's stock worth $93,000 after purchasing an additional 2,356 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of Digital Turbine by 0.4% during the 4th quarter. Two Sigma Advisers LP now owns 1,641,974 shares of the software maker's stock valued at $2,775,000 after buying an additional 7,100 shares in the last quarter. ProShare Advisors LLC grew its position in Digital Turbine by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 27,024 shares of the software maker's stock valued at $46,000 after acquiring an additional 8,892 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Digital Turbine by 5.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 170,647 shares of the software maker's stock worth $289,000 after acquiring an additional 8,929 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in shares of Digital Turbine by 94.3% in the fourth quarter. Cetera Investment Advisers now owns 27,436 shares of the software maker's stock valued at $46,000 after acquiring an additional 13,317 shares during the period. 63.66% of the stock is owned by institutional investors.

Digital Turbine Stock Performance

Shares of NASDAQ:APPS traded down $0.13 during midday trading on Tuesday, hitting $5.56. The company had a trading volume of 5,102,758 shares, compared to its average volume of 5,900,385. Digital Turbine, Inc. has a 12-month low of $1.18 and a 12-month high of $7.77. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market cap of $600.69 million, a price-to-earnings ratio of -6.25 and a beta of 2.57. The company has a fifty day moving average of $5.38 and a two-hundred day moving average of $4.14.

Digital Turbine (NASDAQ:APPS - Get Free Report) last announced its quarterly earnings results on Monday, June 16th. The software maker reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.05. The company had revenue of $119.15 million for the quarter, compared to the consensus estimate of $116.64 million. Digital Turbine had a negative net margin of 18.61% and a positive return on equity of 1.89%. During the same period in the previous year, the firm posted $0.12 EPS. On average, equities research analysts expect that Digital Turbine, Inc. will post -0.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Wall Street Zen upgraded Digital Turbine from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Craig Hallum increased their target price on Digital Turbine from $4.00 to $7.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th.

About Digital Turbine

Digital Turbine, Inc, through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs). The company operates through two segments, On Device Solutions and App Growth Platform. Its application media platform delivers mobile applications to various publishers, carriers, OEMs, and devices; and content media platform offers news, weather, sports, and other content, as well as programmatic advertising and media content delivery services, and sponsored and editorial content media.